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Persistent Systems Limited — Earnings Release 2020
Jan 30, 2020
60826_rns_2020-01-30_049e68c7-c9c3-49c3-b6af-4b3e24a3561b.pdf
Earnings Release
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PERSISTENT
NSE & BSE / 2019-20 / 103
January 30, 2020
The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400051
The Manager, Corporate Services, BSE Limited 14[th ] Floor, P J Towers, Dalal Street, Mumbai 400001
Ref: Symbol: PERSISTENT
Ref: Scrip Code: 533179
Dear Sir/ Madam,
Sub: Press Release regarding financial results for the quarter and period ended December 31, 2019
We wish to inform you that the Company has made a press release dated January 30, 2020 announcing the financial results for the quarter and period ended December 31, 2019, as approved by the Board of Directors at its meeting held on January 29, 2020 and concluded on January 30, 2020.
The copy of the Press Release is attached for your records.
Please acknowledge the receipt.
Thanking you,
Yours sincerely,
For Persistent Systems Limited
A Company Secretary ICSI Membership Number: ACS 20507
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Encl: As above
Persistent Systems Limited, Bhageerath, 402, Senapati Bapat Road, Pune 411016 I Tel : +91 (20) 670 30000 Persistent Systems Inc., 2055, Laurelwood Rd, Suite 210, Santa Clara, CA 95054, USA I Tel: +1 (408) 216 7010 CIN - L72300PN1990PLC056696 I Fax - +91 (20) 6703 0009 I e-mail - [email protected] I Website - www.persistent.com
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PERSISTENT SYSTEMS REPORTS $129.43 MILLION REVENUE, 3.1% Q-o-Q GROWTH FOR Q3FY20
Pune, India and Santa Clara, US — January 30, 2020
News Summary
Persistent Systems (BSE & NSE: PERSISTENT) today announced the company's financial results for the third quarter ended December 31, 2019, as approved by the Board of Directors.
Consolidated Financial Highlights for the Quarter ended December 31, 2019
| Q3FY20 | Q-o-Q growth | |
|---|---|---|
| Revenue (USD Million) | 129.43 | 3.1% |
| Revenue (INR Million) | 9,227.29 | 4.3% |
| EBITDA (INR Million) | 1,234.31 | 1.5% |
| PBT (INR Million) | 1,139.75 | -1.4% |
| PAT (INR Million) | 879.26 | 2.2% |
The Board of Directors, at its meeting concluded on January 30, 2020, declared an Interim Dividend of ₹9 per share on the face value of ₹10 each for the Financial Year 2019-20.
“This quarter, we saw the validation of our new go-to-market approach, starting in BFSI with our largest deal of the quarter. By designing and delivering a composable digital mosaic for all of our industry and technology categories, we accelerate time to value for our clients and increase business agility. At its core, this strategy combines Persistent’s deep industry and solution expertise with a flexible, open partner ecosystem, tailored to each client. Our unique boutique-at-scale approach and capabilities radically reduce two core challenges organizations face in transforming into a modern digital enterprise; complexity of choice and integration.”
Christopher O’Connor, CEO & Executive Director, Persistent Systems
“In Technology Services Unit (TSU), we saw a secular growth across BFSI, Healthcare & Life Sciences and ISVs as well as uniformed growth across our top 20 customers.”
Sandeep Kalra, Executive Director & President — Technology Services Unit, Persistent Systems
© 2020 Persistent Systems Ltd. All rights reserved.
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Key Wins During the Quarter
Banking, Financial Services and Insurance
Significant Client Advances
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Development of next generation bot-based intelligent platform for enhanced experience for retail banking and home lending applications for one of the largest banks, based in the US
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Development of Salesforce-based integration adaptors and application development for a US-based financial institution
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Critical support of enhanced access certification process and identity management user experience for one of the largest US banks
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Development of key tools for Europe’s leading banking software provider for their core banking software product
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Implementation of cloud-based digital core banking solution for a large private bank in Asia Pacific region
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Implementation and development of Outsystems-based low-code rapid application for a leading Indian general insurance company
Significant Partner Advances
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Recognition as Amazon Web Services (AWS) Advanced Consulting Partner for Data & Analytics, and IoT
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Recognized as Nacha Preferred Partner for digital banking solutions
Healthcare & Life Sciences
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Creation of methodology, model & roadmap for application portfolio rationalization for one of the largest pharmaceutical companies in the world
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End-to-end ownership of engineering, testing, system administration, and operational support for a leading US HMO health plan
Industrial
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Migration from a ‘one tool-centric’ solution to a collaborative system engineering platform for a top European aerospace company
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Deployment of new entitlements, ensuring compliance for a French multinational electrical retailing company
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Enterprise-wide implementation of IBM ELM software for a European heavy vehicle manufacturer
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API Monetization Platform upgrade by a major telecom operator based in the US
© 2020 Persistent Systems Ltd. All rights reserved.
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ISV & Emerging Vertical
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Implementation of Einstein Analytics, a Salesforce-based AI solution, replacing legacy reporting tool for a leader in hair transplant and restoration services
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Implementation of a software defined networking & network functions virtualisation solution for a leading telecom carrier in Malaysia
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Product Engineering engagement to build AI-powered learning and score improvement platform for one of India’s leading eLearning start-ups
Highlights
New Solutions
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Persistent Digital Credit Union Solution™ in partnership with Gojoko, Mambu and powered by Amazon Web Services
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Strategic alliance with OutSystems and Workato to accelerate low-code integration and automation
Recognition
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First software development company in the world to be #ISO 14064-1:2018 certified
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Winner, Latin America Region IBM Developer Call for Code 2019
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Received 2019 Association of Talent Development’s (ATD) BEST Award
Client Highlights
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Landus Cooperative receives Highest ROI award from OutSystems
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Mount Sinai conducted 4[th] Annual Health Hackathon
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LungLifeAI cuts lung cancer diagnostic times by 70% using ML algorithms
Other Highlights
- New leadership for unified Salesforce practice in Europe
© 2020 Persistent Systems Ltd. All rights reserved.
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Persistent Systems (BSE & NSE: PERSISTENT) is a global solutions company delivering digital business acceleration, enterprise modernization and digital product engineering for businesses across all industries and geographies.
Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit www.persistent.com/FLCS
Media Contacts
Ken Montgomery Pulkit Grover Saviera Barretto Persistent Systems (US) Persistent Systems (India) Archetype +1 213 500 8355 +91 86696 70068 +91 84249 17719 [email protected] [email protected] [email protected]
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© 2020 Persistent Systems Ltd. All rights reserved.
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